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Can’t say I disagree with most of what you say! Its mostly factually correct.
Could I ask you to list the 10 actions that you would like to see from RRR and shareholders, then the many many many words you’ve used might appear more than a long winding whine.
In short, what do you want to happen ……l and in what order?
until a company (any company) develops a cash flow an investor should ALWAYS anticipate the company will issue more shares.
Even if directors worked for free (most if not wont), even if employees worked for free (they wont) running a company even if nothing is done costs money (think attorneys, CPA firm, stock transfer agents, website, putting out news releases all of that takes money. Every single exploration property RRR has costs money every single year
When AB travels by air does he travel 1st class? great question I have worked at companies larger than RRR and we had a policy of NO first travel-ever. A traveler could upgrade at their cost
From todays RNS ;-It is the prime responsibility of the Board to ensure the Company and the Group remains a going concern. At 30 June 2022, the Group had cash and cash equivalents of £0.066 million and £1.864 million of borrowings and, as at 22 December 2022, the cash balance was c£400,000. The Directors anticipate having to raise additional funding over the course of the financial year.
The above statement uses the word 'Anticipate' which is indicative that despite the stated expectations of payment to be received RRR will be raising funds. So more dilution to be expected and expensive because of Mr Bells consistent track record over an astonishing period of time, at least 20 years zero returns to shareholders has created a serious amount of push back negativity
Full of optimism and unrealised expectations, also risky in operation otherwise how come the amount of litigation in progress
Recently Bell even stated RRR shares were basically not worth buying.
2021 AB income was £144.000 out of total directors costs £312,000;-Note the staff costs recorded as £436,000 for total including directors of 6 staff.
2022 AB income was £164,000 out of total directors cost of £302,000;-Note staff costs £657,000 for total including directors of 14 staff
Bell recently boasted he had visited 30 countries presumably first class all the way?
Investments in unsafe jurisdictions, that is where the home office advise against travel. Those investments have created legal arguments where RRR has been apparently been cheated .The question is how was that allowed to happen?
He has been there too long and his presence is now a hindrance and a liability to the company and shareholders. The board must take action and remove him or at the very least reduce his salary by at least 60% and base any bonus on actual returns to shareholders.
As to investments, RRR should focus on investing in assts in companies that have a proven track record and are in stable jurisdictions. That way the company can reduce their risk and ensure a return for shareholders.
The company should also focus on cost control and efficiency improvements to ensure that their profits are maximised. The board should ensure that all investments are scrutinised thoroughly and that the company is not taking undue risks.
Finally, the board should be transparent and accountable to shareholders by providing regular updates on the progress of the company and its investments.
Basic premise is any investment is high risk of zero returns and loss especially as the BOD anticipates raising additional funding over the year . Take it as before April just 3 months away.
true- admin is high, much higher than before. IMO the cause is projects in too many countries. 8 weeks in Congo would have been expensive just by itself. I am optimistic but 2023 is shaping up to be a make or break year
No. My link was purely to point towards a simple explanation of what a draft award is. Instead of putting that English article on here i should've probably found an article from the DRC.
Glancing at todays RNS the £1,225,000 adminstative expensive are very high. It is also important to get this DRC arbitration sorted out quickly because no shareholder would want Red Rock to lend the full $1.5 million from the recent death spiral lenders because they could absolutely decimate this share price. Lastly i was surprised to see in todays RNS that Red Rock still owe former Kenyan partners Kansai mining $1 million. Todays RNS said:
"As at the reporting date, the amount of US$1,000,000 remains payable, with agreement having been arrived at between the parties that payment shall be deferred until receipt by the Company of any funds awarded by the court of the DRC".
Zumore -Do you think Congo's legal system and/or arbitration system has its roots in English law & rules. I would have thought French IMO the whole concept of rules, laws & regulation is pretty loosely applied in the Congo,
But I remain hopeful that the passage of time (now significant) means it is closer to getting a signed award
with the recent fund raise RRR is no longer broke and can show VUP they have the staying power to wait.
It is interesting that Bell commented about prudent information release to investors for fear of upsetting certain foes but now has delivered a very open statement, does this mean he is more confident of an imminent conclusion and receipt of up-to $10m ?
Whilst caution is always the watch word when Bell is concerned it seems strange he would reveal all now and it does make you wonder if the end game approaches.
It also appears he is about pursue the Major Mining Company for compensation, Big G have recently been fined significant sums for misconduct in Africa - Bell has a strong case and needs to strike whilst the iron is hot, it would involve sums of money that Red Rock shareholders could only dream about, the legals on a Pro Bono basis (no cost to RRR)
Maybe just maybe the upside wheel is about to turn.
why not wait until the mediation decision has been finalized? Keep in mind RRR is entitled to 50% of the $20 million.
They already have a court decision for the $2.5 million plus damages
just keep going the legal route
VUP have offered $2.5m to RRR. Wouldn't be surprised if a compromise of $5m is achieved early next year
Message from AB on telegram group ref "DRC signing "
"Bell's comments have to be definitive. Study his travels the next few days if you want to anticipate them "
Looks like it could be coming home very soon !
Capt Kurt-If a representative of RRR has to sign then RRR would quickly have a copy. It would in French but a translation would be quick (maybe a day). But the document would have to be stamped and what ever formal processes there are which could take a time. If it is signed I would hope that RRR would put out a RNS and then explain the remaining steps to actually receive the cash.
AB has been missing off twitter now for a number of days, with rumours of a DRC arbitration signing meeting last week. Any official documents would take afew weeks to get to RRR ??
is there such a thing as year end tax loss selling in the UK?
Hawaii, i know you said the share price has only been lower once at year end in 18 years but remember Red Rock did do a 25-1 share consolidation at the end of 2014. So if that share consolidation had never happened then todays share price would be 25 times smaller.
Before the share consolidation there were 6,033,861,125 shares in issue. After the 25-1 share consolidation the shares in issue were 241,354,445. Today they have 1,341,147,223 shares in issue.
On a different subject Red Rock's annual results rns must be released by Friday.
Also the additional factor of the death spiral. You can be sure of a few pumps along the way to trade into.
Historically the current RRR share price offers material gains for buyers, it has only been lower one time at year end in 18 years - the current market cap has only been lower 4 times in 18 years.
So many of these micro cap juniors have turned out as simple trading plays, get your timing right is the key, I have been buying a number of juniors recently, scaling in, many have fallen 80% or more over the last 18 months, during the severe downturn back in 2008 most found a m/cap floor of around £2m/£3m - we are at that point now.
It is possible, even in current markets to get a 100% trading gain, ORR recently moved from .12p to .24p from no-where, it could happen here.
Hoping for sector recovery next year.
I’ve bought in and sold out here many times since 2009, never crystallised a loss though as picked my timing each time. Some times I got stuck in longer than I wanted (averaged down), others I went in bigger and picked the right point. Done this long enough and have big boy pants that I know the risks
https://twitter.com/A_Milewski/status/1607756314901364737?s=20&t=pAIV-OpsFq68w7CDri7u0w
yes the weather has been travel. air travel has been disrupted all over as result. Some US airlines have cancelled over 75% of their flights
Longterm if you know how AB operates ( and you are spot on by the way ) why are you buying? I have been diluted to oblivion here and would not want it to happen to you or anyone else.
Specinvestor with you living in Canada. Is this severe winter weather that we are seeing on the UK news affecting the area where you live?
Perhaps, but the price action last week when I bought £30k told me a lot about behind the scenes. The ‘larger holders’ gain every ‘wasted day’ with the carry trades of wages and debt structure here. As I’ve seen before here: buy too much and move price up and bell fundraises every time At a discount so it’s a negative self fulfilling proficy and never ending loop. It’s a really sad case here that any positivity of buying isn’t met with that behind the scenes, it’s actually met with selling into it - which is the most concerning thing here. That’s what should worry people is the willingness to sell out given the chance from those in the know. I will buy in clips here, but could still get a better entry price. At these levels I’m not too worried, but what will I achieve by buying more in size, moving price up, just to be screwed with yet another fundraising taking advantage of my capital injection. These guys need a reality check.